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Stork News





Thursday December 13 2001
Further NAM order to Stork GLT for renovation of three gas production sites
The Stork GLT consortium has received an order from the Nederlandse Aardoliemaatschappij B.V. (NAM) for the renovation of a further three gas production sites in the Slochteren gas field in Groningen, the Netherlands. The first project (near Tjuchem) was started in 1997, and the second (near Bierum) in 1999.

Monday November 5 2001
Stork: break-even result for 2001
Negative impact on Aerospace activities. Textile Printing also affected. No change in trend for Poultry & Food Processing and Technical Services. Cost-reduction measures include capacity adjustment. Completion of Capital Assets divestments postponed. The after-effects of the terrorist attacks in the USA are having such an impact on developments at two of the four Stork groups that the profitability of the strategic activities in the second half-year will be insufficient to compensate for the loss in the first half-year (EUR 34.4 mln).

Stork contributes to new Dasault business jet
The French aerospace company Dassault Aviation has awarded Stork an order to design and supply the wing control surfaces for Dassault's new Falcon "7X" business jet. The order includes the flaps, ailerons and spoilers. For Stork this order represents a value of more than EUR 100 mln over a period of 10 years.

Stork order from Japanese Coastguard
Fokker Services, a part of the Stork organisation, has received an order from the Japanese Coastguard for the complete Search and Rescue (SAR) modification of two Gulfstream V aircraft. The order has a value of several million euro, and is the result of intensive co-operation on a team basis between Gulfstream (USA), Marubeni (Japan) and Thales (France).

Tuesday October 30 2001
Stork to discontinue further negotiations about 35% share in Fokker Space
Stork has learned that the Swedish company Saab Ericsson Space has broken off the negotiations about a 65% shareholding in Fokker Space. Stork respects this decision, and concludes that without the Swedish participation the negotiations about a Stork shareholding of the remaining 35% in Fokker Space serve no further purpose.

Tuesday July 24 2001
Teijin Twaron, Tebodin and Stork ICM sign agreement
Teijin Twaron, Tebodin and Stork ICM have concluded an agreement on the expansion of Teijin Twaron's production facilities in Delfzijl, the Netherlands. The agreement specifies the responsibilities of the parties with respect to detailed engineering, purchasing and construction work. In Delfzijl, Teijin Twaron produces monomer and para-aramid polymer, which are used to manufacture the superstrong Twaron para-aramid fiber.

Thursday July 19 2001
Stork sells last of its red meat activities
Stork and Penguin Ventures have signed a letter of intent for the sale of a majority shareholding in Stork MPS (Lichtenvoorde) to Penguin Ventures. The transaction is expected to be completed on 1 September 2001. The trade unions, works council and employees have been advised of the intended sale. This transaction means that Stork has now disposed of 75% of its non-strategic activities.

Thursday July 12 2001
Stork clinches EUR 9 mln deal for fifth Schiphol runway
The Schiphol Group has awarded Stork Infratechniek an order worth EUR 9 mln for jobs to be carried out on the fifth runway. The deal covers electrical engineering, lighting engineering and infrastructural works projected for the strip and taxi way installations of the '5P' runway of Schiphol Amsterdam Airport.

Tuesday July 3 2001
Part of Stork red meat activities sold to US company Townsend
Stork has reached agreement with the US company Townsend Engineering for the sale of the Stork Protecon-Langen branch to Townsend. This Stork subsidiary based in Oss, the Netherlands, specialises in machines for the (red) meat processing industry. Townsend Engineering (235 employees), based in Des Moines, Iowa (USA), is a leading manufacturer of meat processing equipment with its European Headquarters in Zoetermeer.

Wednesday June 27 2001
Joint venture Essent/Stork for energy savings in buildings
The energy company Essent and technology company Stork are starting a new joint venture called Smartest Buildings. The main activity of the new joint venture will be the introduction of measures to save energy costs in buildings. These savings will to a large extent be achieved by on-line energy management, resulting in a reduction in costs, time and attention.

Tuesday June 26 2001
French Stork branch concertrates on service
Stork Systemes Alimentaires SA, part of Stork Food & Dairy Systems BV of Amsterdam, intends to concentrate the activities of its branch in Dreux, France, on service, and to end the production activities. These changes will result in a reduction in the employment level at the branch. Stork Food & Dairy Systems and Stork Systemes Alimentaires are among the group of companies that Stork intends to dispose of because they no longer form part of the strategic activities.

Friday June 22 2001
Stork half-year figures lower than expected
In advance of the publication of its half-year figures on 23 August 2001, Stork announces that as far as can be seen at present its half-year results will be significantly (20%) lower than those for the same period last year. The most important causes are the increased start-up costs in Aerospace as a result of the participation in new aircraft and defence programmes.

Friday June 15 2001
Stork Digital Imaging reorganises
Stork Digital Imaging, part of the Stork Textile Printing group, is reorganising in line with a concentration on core activities and the necessary improvement in efficiency. The reorganisation means that 35 of the 153 jobs will be lost. The reduction in the number of jobs will take place in the coming months.

Wednesday May 16 2001
Stork supplies new 'Glare' material for Airbus super-jumbo
Stork/Fokker has been selected by Airbus Industrie to supply fuselage sections for the A380, the new-generation aircraft with a capacity of 555 passengers. 'This is a very important breakthrough of an innovative material in aerospace and an impulse for Dutch aerospace industry', says Stork CEO Aad Veenman.

Friday March 16 2001
New composition of Supervisory Board of Stork NV
During the general meeting of Shareholders of Stork N.V. held on Friday in Hotel Okura, Amstrdam, Mr. R Hazelhoff handed over the chairmanship pf the Supervisory Board to Mr. S.D. de Bree. Mr. R. Hazelhoff, Mr. P. Schwencke and Mr. C. den Hartog on Friday retired from the Supervisory Board by rotation.

Tuesday February 6 2001
Stork: Netherlands opts into amoured vehicle project
A GBP 2 bn (USD 2.9 bn) UK/German armoured vehicle programme has received a boost with the agreement of the Netherlands to take part in the project. France had earlier pulled out of the programme after failure to agree on requirements. Some 2,000 multi-role armoured vehicles - also known as 'battlefield taxis' - are due to be built under one of the first programmes to be managed by Occar, Europe's new arms procurement agency based in Bonn.

Thursday December 7 2000
Stork makes good progress with disposals programme
Stork is making good progress with the disposal of its non-strategic activities. In the strategic reorientation that was announced in March 2000, and following a further sharpening of the criteria for its non-core activities, Stork decided to dispose of these activities representing a total turnover of approximately EUR 830 mln.

Stork strengthens its strategic activities
Stork is strengthening its strategic activities to achieve the targets announced in March 2000 of a turnover growth of 10% a year with a net profit of 7% by the end of 2004. Among the measures which are being implemented urgently to achieve these targets is the Stork Strong! improvement programme. This was confirmed by CEO Aad W.

Tuesday October 31 2000
Stork to cut 105 jobs
Stork said on Tuesday it is to cut at its headquarters as part of the major reorganisation. Of the 155 employees at Stork's main office, only 50 will remain. Stork's accounting work will be contracted out to a large accountancy firm, while lawyers and purchasing agents will transferred to other Stork business units.

Thursday October 19 2000
Stork receives order from Bombardier for NS rolling stock
Stork has received an order from Bombardier Transportation for the supply of (driving) bogies for the 'Regio Runner' (IRM) trains of the Nederlandse Spoorwegen (Dutch Railways). The order represents a value of EUR 27 mln (NLG 60 mln). The NS intends to introduce an extra 252 carriages of the 'Regio Runner' double-deck rolling stock.

Tuesday October 17 2000
Stork and NEM combine boiler manufacture service activities
Stork and NEM (energy and environmental projects, Leiden) are planning to combine their service activities relating to boiler manufacture in a new service company, in which NEM will have a majority interest. This new organisation will incorporate NEM Service & After Sales, NEM Schelde Services, Stork Energy Services and, in time, Stork Thermeq.

Thursday October 12 2000
Fokker/Stork contributes to latest generation of Patriot missiles
Fokker Special Products (Hoogeveen) has received an order from Lockheed Martin Vought Systems in the USA to supply the launching tubes (canisters) for the latest generation of Patriot missiles (PAC-3). A total of 63 units have been ordered (4 canisters per unit), with an option for a further 200 units.

Monday October 9 2000
Stork acquires H&E Machinery
Stork said it acquired H&E Machinery of the US, which has three plants making blades for steam and gas turbines for the North and South American markets and for the European energy, aerospace and industrial markets. No financial details were disclosed. Stork said the activities of H&E are a good geographical and technical fit, with the specialist products and services of Stork Turbo Blading, which together with H&E will have sales of EUR 30 mln.

Tuesday September 26 2000
Stork cuts 145 jobs
Stork announced on Tuesday it wants to cut 145 jobs at two boilermakers Thermeq and Energy Systems in Hengelo. Some 62 jobs at Thermeq will be scrapped, while 35 will go at Energy Systems. The company is currently attempting to reorganise its activities. Boilermaking is not a core business for Stork and the two Hengelo companies have posted disappointing results in recent years.

Thursday September 21 2000
Fokker Services improves its organisation
The Stork operating company Fokker Services is carrying out a change programme that is designed to make the entire organisation more effective, efficient and transparent. The programme is in line with the implementation of 'Stork Strong', a strategic reorientation focused on the criteria: growth, market leadership and increased profitability.

Friday August 25 2000
Stork consortium wins EUR 135 mln NAM contract
Stork said its Stork GLT consortium won a EUR 135 mln, three-year contract from Royal Dutch/Shell Group and Exxon Corp unit Nederlandse Aardolie Maatschappij BV. The contract is for the renovation of a further three clusters of production units at the Slochteren natural gas field in Groningen province, Netherlands.

Thursday August 17 2000
Stork H1 net profit down 13%
Stork reported on Thursday net profit for the first-half of 2000 decreased 13% to EUR 30.6 mln, compared with net profit of EUR 35.0 mln the company booked in the comparible period of 1999. Turnover increased 9% from EUR 961.3 mln to EUR 1,043.6 mln. Operating income decreased 9% from EUR 46.9 mln to EUR 42.5 mln.

Stork sells unit to Carlisle
Stork said on Thursday it would sell its Stork Friesland unit to US group Carlisle Companies. The unit makes evaporators and spray dryers for the food and dairy sectors and has 47 employees. Stork did not disclose turnover figures of the unit or financial details of the sale. The Dutch group said the divestment was part of its ongoing strategy to hive off non-core activities.

Stork sells Stork Friesland unit
Stork said it agreed in principle to sell its Stork Friesland Indampers en Drogers unit to Carlisle Companies of the US for an undisclosed amount. Stork Friesland specialises in designing and making machinery for the food and dairy industry.

Tuesday July 4 2000
Stork joins in on EUR 200 mln order
Fokker Aerostructures, a subsidiairy of industrial systems producer Stork, is to join NHI to build 243 military helicopters. The order is worth some EUR 200 mln. Fokker Aerostructures has 5.5% of the total helicopter programme. The Netherlands has agreed to buy 20 helicopters. Germany, France and Italy intend to build a further 352 helicopters.

Thursday June 8 2000
Stork sees EUR 200 mln helicopter order
Stork said it is likely soon to receive an EUR 200 mln order to produce parts for 243 NH90 helicopters after France, Germany, Italy and the Netherlands signed a memorandum of understanding on their joint helicopter programme. The four agreed to order NH90 aircraft worth EUR 9 bn. Stork said it expects to receive the parts order in the near future, as part of the NHI consortium, which includes Eurocopter, Agusta and Fokker Aerostructures.

Stork, Internatio-Muller merger prospectus in August
Internatio-Mueller and Stork said that they expect to publish the prospectus for their planned merger in August, following the completion of due diligence. The prospectus for the merger will include the companies respective first-half results. The companies noted in a joint statement that "preparations for the merger are proceeding satisfactorily."

Tuesday June 6 2000
Stork's food unit maybe takeover
Meyn, may be interested in takeover Stork's food division. Meyn is the in Oostzaam-based producer of poultry processing equipment. Stork plans to sell off its food processing unit prior to its proposed merger with its sector peer Internatio-Muller. the two companies want to create a industrial technical services group, moving out of food completely.

Tuesday May 23 2000
Stork joins Lockheed fighter jet team
Stork said on Tuesday its aerospace unit had joined the Lockheed-Martin consortium which is competing with a Boeing-led group to build the Joint Strike Fighter (JSF) aircraft. The U.S government will place an order for 3000 planes with one of the consortia next year. Stork will supply doors and wiring for the planes which could earn it about one billion guilders (USD 412 mln) if the Lockheed Martin consortium is chosen, said Kier Vis, director of Stork aeronautics group's military marketing.

Monday May 8 2000
Stork, Internatio Muller to merge
Stork and Internatio Muller said they may soon reach an agreement on a merger of equals. The companies said they have complementary products and services, which allow them to offer a fully integrated package in the areas of industry, utility construction, large infrastructure works, aerospace and maritime business and textiles.

Internatio Muller divests operations
Internatio Muller said it intends to sell its harbour, chemical distribution and pharmaceutical operations, with combined sales of EUR 1.386 bn in 1999 and EBIT of EUR 50 mln. Stork, which was already engaged in a restructuring programme, will sell operations worth 947 mln in sales, with a negative EBIT of EUR 24 mln.

Stork, Internatio Muller shifts focus
Stork and Internatio Muller, which announced plans to merge on Monday, said they hope to shift the focus of the new company towards maintenance and information and technology activities through acquisitions. The companies have no concrete plans for takeovers yet, but will look at small and large companies across Europe in the information technology and maintenance sectors, Internatio-Mueller chief financial officer Max van Alphen said at a joint news conference on the merger.

Stork, Internatio Muller deal hits opposition
Disgruntled shareholders voiced opposition to an agreed merger between Stork and Internatio Muller. Shareholders in Internatio-Muller, a chemical distribution and technical engineering company, are unhappy with a deal under which some parts of the business will be sold and the proceeds ploughed into a new company formed by its merger with Stork, the Dutch industrial services group.

Wednesday March 8 2000
Stork, Siemens in talks on cooperation
Siemens unit Siemens Nederland is in "exploratory, technical discussions" with Stork, which could lead to a production cooperation in 3-4 years, Siemens Nederland vice president Dick Oorburg told reporters on Wednesday. The Amsterdam city council's transport department earlier on Wednesday said it awarded Siemens Nederland an order worth some 312 mln nfl for the production of 95 new trams with an option for ordering another 65 "in the near term".

Tuesday February 29 2000
Stork to divest more non-core operations
Stork said it will divest non-core operations with about 500 mln eur in sales in an effort to focus on operations with better growth prospects. The company's activities in textile printing, food processing, aerospace and technical services will now form its core operations and should be able to post strong growth and achieve market leadership with the help of technology enhancements, Stork said.

Wednesday February 16 2000
Major job losses expected at Stork
A 'substantial' number of the 900 jobs in the engineering division of Stork are to be axed as part of the company's decision to reduce its engineering activities. Stork wants to close two of its three Dutch engineering plants. Heavy restructuring costs are expected to have a negative impact on Stork's results this year, Stork said. Stork said that the loss-making Dutch facilities would remain within Stork until their reorganisation has been completed next year at the earliest.

First phase of sale of Stork Engineering completed
Stork and Jacobs Engineering Group (USA) on 16 February 2000 completed the transactions through which the majority of the Stork Engineering Group has now been transferred to Jacobs Engineering Group of the USA. The acquisition sum involved in this part of the transaction is approximately NLG 55 mln.

Wednesday December 22 1999
Stork acquires Ascom Traffic and Parking
Stork has reached agreement in principle with Ascom Nederland B.V. about the acquisition of the activities of Ascom Traffic and Parking by Stork. Ascom Traffic and Parking is a provider of integrated solutions for urban traffic and parking requirements. The company has 57 employees and a turnover of some NLG 20 mln.

Wednesday December 1 1999
Stork, Bombadier talks ended
Stork and the Canadian aircraft and vehicle producer Bombadier were in serious talks about cooperating on the production of trams for Amsterdam and Rotterdam, but were unable to reach an agreement. Both firms are on the short list of companies competing for a NLG 450 mln order for 155 trams, the largest such order in Europe.

Thursday November 18 1999
Stork warns on profits, US Jacobs deal
Stork said on Wednesday its 1999 net profit was seen at least halving from the 1998 level as a result of a substantial but unspecified provision. Shareholders' lobby group VEB said Stork had only itself to blame for the plunge. VEB director Peter Paul de Vries said it was 'unacceptable' that Stork management had failed to mention that the Food Processing unit would also close 1999 in the red.

Wednesday November 17 1999
Stork expects 50% fall in 1999 profit
Stork on Wednesday warned that full year profits are now expected to be half of the NLG 189 mln booked in 1998. Profit will be under pressure are a result of a provision of at least several tens of millions of guilders said Stork, declining to give exact figures. The provision has been set aside for a new round of job cuts at Stork Engineering following last year's scrapping of 200 posts.

Stork acquires equipment hire firm
Stork has tyaken over Reisiger Verhuur Groningen and Reisiger Verkoop which hire out equipment to industrial contractors and provides technical services. Reisiger has four outlets in the north og the country.

Friday October 1 1999
Stork divests stake in Delaval-Stork j/v
Stork announced on Friday that it is selling its 50% stake in the joint venture with Mannesmann Demag to Mannesmann Demag for an undisclosed sum. The joint venture, Delaval-Stork, has annual turnover of some NLG 200 mln. Stork said the sale is the result of an existing agreement dating back to the contract made between the two companies in 1994. Mannesmann Demag was since 1994 the managing partner of Delaval-Stork.

Tuesday August 24 1999
Stork sells engineering unit
Stork announced on Tuesday that it has reached an agreement in principle with Jacobs Engeneering Group of Pasadena, California, on the sale of Stork's loss-making engineering division. Stork Engineering is one of the five business groups of Stork with activities in the Netherlands, Belgium, Germany and South-East Asia.

Stork H1 net profit up 1%
Stork reported on Tuesday net profit for the first-half of 1999 increased 1% to EUR 35.0 mln, compared with net profit of EUR 34.5 mln the company booked in the comparible period of 1998. Turnover increased 5% from EUR 911.9 mln to EUR 961.3 mln. Operating income decreased 6% from EUR 50.1 mln to EUR 46.9 mln.

Thursday August 19 1999
Stork acquires Cooperheat of UK
Stork Materials Engineering, a subsidiary of Stork Technical Services Group, has acquired the British company Cooperheat, which is active in on-site heat treatment services to the industry, for an undisclosed sum. Cooperheat has annual revenues of some EUR 23 mln and employs around 300 people distributed among its headquarters in Southport, England and regional offices in Europe, the Middle East and South East Asia.

Monday July 19 1999
Stork aims for major US acquisition
Stork is aiming for a major acquisition in the US. The company said that it is in talks with an unnamed US aviation company. Stork is active in the aviation industry through its subsidiary Aerospace Group.

Friday July 9 1999
Stork joins forces to win tram order
Stork has joined forces with Traxis, formerly Holec, and France's Alsthorm to compete with six other European tram builders to win a NLG 450 mln order for 155 trams to be used in Amsterdam and Rotterdam. Stork, Traxis and Alsthorm claim their tram is lighter and cheaper to maintain that their competitor's models and would therefore has a good chance to win the order.

Wednesday July 7 1999
Stork and Fortis in building management deal
Stork Technisch Beheer -- a subsidiary of Stork which focuses on the management of technical, building related installations in utilities and industry -- and Fortis have signed a contract that provides the management of eight Fortis locations by Stork Technisch Beheer. Stork said the contract is designed to cover amuch more significant part of Fortis real estate portfolio. Financial details were not disclosed.

Monday June 28 1999
Stork considers de-listing
Stork's financial director Van den Boogaard said in an interview with regional business magazine Twentevisie that Stork is considering to de-list the company from the Amsterdam stock exchange. Management of Stork is disappointed about the low market valuation of the company, which makes it difficult for Stork to pay for acquisitions with its own shares.

Thursday June 3 1999
Stork axes 85 jobs in Boxmeer
Stork said on Thursday it is to cut 85 of the 450 jobs at its textiles printing machines factory in Boxmeer. Stork said the move was necessary because it has to deal with increased competition from China and changing customer demand towards woven patterns on fabric rather than printed designs. Stork said compulsory redundancies would be inevitable.

Thursday May 27 1999
Stork acquires 5 test labs in US
Stork announced on Thursday that its unit Stork Materials Engineering has acquired the Specialty Testing Business Division of Maxim Technologies in the US. Financial details of the deal were not disclosed. The transaction involves five test laboratories in Houston, Forth Worth, St.Paul, Wausau and Des Moines.

Monday May 10 1999
Stork buys Special Products
Stork said on Monday it is buying Special Products of Zwolle from Wartsila NDS Nederland. Financial details were not disclosed. Special Products specialises in maintenance activities for military equipment and is a good strategic fit with Stork's technical services division. The unit generated turnover of NLG 14 mln in 1998 and employs 30 people.

Wednesday May 5 1999
Stork sells TPS to American Alpnet
Stork announced it has come to an agreement with Alpnet (US) with respect to the sale of Stork TPS to Alpnet. Stork TPS (Technical Publications Services) is an operating company established in Hengelo that employs approximately 50 people and has a turnover of around NLG 15 mln. The company is specialised in consultancy and production work in the field of industrial documentation.

Stork wins orders from Boeing
Stork announced on Monday that it has won an order worth some 'tens of millions' of dollars to supply components for the Boeing C-17 military transport aircraft. The actual supply of these components will be handled in co-operation with Fokker Special Products, and is scheduled to take place from 2000 to 2004.

Monday April 12 1999
Stork paid bribes for contract
Stork has paid NLG 2.3 mln in bribes between 1986 and 1990 to those responsible for the construction of a large natural gas installation for Dutch oil and gas exploration and production group NAM. Stork said the payments were commissions, adding that the payments were made through a Channel Islands bank account. Stork said it was not normal practice.

Wednesday March 31 1999
Stork alliance with French computer company
The Stork Textile Printing group has formed an alliance with French computer systems company Lectra Systemes. Stork Textile, part of the giant Stork engineering group, manufactures and develops machinery for the textile printing trade. Stork hopes the alliance will shorten the production process and stimulate new markets. Some 50% of the world's textile ptinting machines are produced by Stork.

Thursday March 25 1999
Stork builds installation for Dow Benelux
Stork has received an order from Dow Benelux for the design, procurement and construction of a main part of the Emergo ethylene expansion project for Dow in Terneuzen, The Netherlands. The project represents a considerable contribution to the capacity utilisation of Stork's subsidiary Stork Engineers & Contractors and is scheduled to be completed in the third quarter of 2001. Financial details of the order were not disclosed.

Friday March 19 1999
Stork acquires 43% stake in SABCA
Stork has acquired a 43% stake in Belgian SABCA. Already at the end of last year Stork and the receivers of Fokker reached agreement in principle about the sale to Stork of thes hareholding in SABCA which has been held by the former Fokker company. But the takeover price of NLG 80 mln was considered too high by Stork after a dilligence of SABCA's books.

Wednesday March 3 1999
Stork net profit up 10%
Stork reported on Wednesday net profit for 1998 increased 10% to NLG 189.2 mln, compared with net profit of NLG 171.6 mln the company booked in the comparible period of 1997. Turnover decreased 10% from NLG 5,504.2 mln to NLG 4,964.0 mln. Operating income increased 8% from NLG 222.6 mln to NLG 240.0 mln. Earnings per share for 1998 increased 9% to NLG 6.11, compared with earnings per share of NLG 5.61 for 1997. Stork is forecasting the company will book a modest increase in net profit in 1999.

Wednesday January 20 1999
Stork acquires Intermes
Stork Materials Engineering, part of engineering group Stork's technical services division, is to acquire Intermes from Heerema Fabrication Group of Belgiam. Intermes, based in Antwerp, and is a calibration laboratory with 35 staff.

Monday January 11 1999
Stork-Fokker in Airbus talks
European earospace consortium Airbus Industries is in talks with Stork-Fokker over participation in its A3XX project which is to bring out 555-passenger competitor to the Boeing-747 after the turn of the century. Airbus chairman Noel Forgeard confirmed the talks at the presentation of 1998 earnings in Paris on Monday.

Wednesday December 23 1998
Stork sells majority of SPM
Stork is selling a 60% stake in Hengelo-based Stork Plastic Machinery (SPM) to management and to venture capital firms Wadinko and NPM. SPM, part of Stork's industrial components division, makes injection moulding equipment for industry. Stork says the activities of the unit, which has a workforce of 150 and annual sales of NLG 70 mln, are no longer considered to be a core business.

Thursday December 17 1998
Stork unit to supply Rolls-Royce
Stork unit Fokker Elmo has signed an exclusive contract with Rolls-Royce to supply electrical systems for the Trent 500 aircraft programme. The order has a value of some NLG 750 mln. Airbus has already ordered 550 of the engines for its A340 500/600 aircraft and Stork estimates that demand from the aircraft builder may run to several thousand. It is the biggest order for Fokker Elmo since it joined Stork after the collapse of Fokker.

Monday December 14 1998
Stork to cut 200 jobs
Stork is planning to cut 200 of the 1,200 jobs at the Amsterdam and Schiedam sites of its engineering division Stork Engineering & Contractors. Forced dismissals have not been ruled out, management said. Group director J. Strating has been transferred to another position within the company. The engineering division has been hit by fewer contracts from the oil and chemicals industries due to falling oil prices.

Thursday December 3 1998
Philips sells circuit boards factory to Stork
Philips Medical Systems Nederland B.V. in Best intends to sell its printed circuit boards factory to Stork. The acquisition should be completed at the beginning of next year. The printed circuit boards assembly department has some 200 employees who will all be taken on by Stork. Philips Medical Systems does not regard the assembly of printed circuit boards as a core activity.

Tuesday December 1 1998
Stork to close Heerlen unit
Stork is planning to close its subsidiary in Heerlen because it does not expect the loss-making unit to show an improvement in the foreseeable future. The company expects to relocate some of the 87 workers elsewhere within the company.

Stork acquires Doc Chemical office
Stork announced on Thursday that it has agreed with Dow Benelux on the conditions of the acquisition by Stork of the Dow Chemical engineering office in Rotterdam. An agreement in principle for this acquisition was already reached on 6 July 1998. Stork said the acquisition will have no effect on employment levels, and work will be continued at the present location.

Tuesday November 24 1998
Stork expands activities in aerospace
Stork and the receivers of Fokker have reached agreement in principle about the sale to Stork of the 42.8% shareholding in SABCA which has been held by the former Fokker company. The French Dassault Group is the majority shareholder in SABCA with a 52.9% holding. The remaining 4.3% of shares are traded on the Brussels stock exchange.

Thursday November 19 1998
Stork receives for NLG 325 mln orders
Stork has won orders with a total value of NLG 325 mln from the aviation industry. All Fokker subsidiaries now owned by Stork are to make deliveries to Airbus, Stork announced on Thursday.

Thursday October 22 1998
Major order for Stork from Siemens
Stork Energy (Hengelo, The Netherlands) has received an order from Siemens for the design and construction of two flue-gas boilers with a total value of NLG 55 mln. The installations will form part of an electric power co-generation station which Siemens is supplying to the German electricity company Rheinlandische Westfalische Elektrizitatswerke (RWE), to serve the Bayer factory in Dormagen, near Cologne.

Tuesday September 29 1998
Stork wins order for factory in Belgium
Stork Comprimo Belgie of Antwerp has received an order from J.M. Huber Corporation for the design and building of a silica powder factory in Oostende (Belgium) with a value of NLG 40 million. Silica powder is used by manufacturers of rubber, paper, toothpaste, paints and pharmaceutical products. J.M.

Wednesday September 16 1998
Stork wins New Zealand contract
Stork subsidiary Stork Friesland has won a NLG 35 mln contract for the desing and development of a milk powder factory in New Zealand. The new factory will be able to process 185 tonnes of milk into 23 tonnes of milk powder every hour. The facility is to become operational in August 1999. Stork technology is already used by most of New Zealand's fast growing dairy industry.

Tuesday August 18 1998
Stork reports H1 net profit up 17%
Stork reported on Tuesday net profit for the first-half of 1998 increased with 17% to NLG 76.0 mln, compared with net profit of NLG 65.0 mln the company booked in the comparible period of 1997. Turnover decreased with 3% from NLG 2,081.0 mln to NLG 2,010.0 mln. Operating income increased with 15% from NLG 96.0 mln to NLG 110.0 mln.

Wednesday July 8 1998
Stork plans to streamline its activities
Stork plans to streamline its activities in the next few years and strengthen its activities in the aerospace industry. Stork is aiming to double its annual turnover in its aerospace division to NLG 2 bn. When Stork acquired Fokker Aviation's service and components activities in 1996, the division turned over NLG 750 mln. Stork said Fokker Aviation's 1998 turnover will reach NLG 1.1 bn. Further Stork said that acquisitions are expected, but there would be no suitable candidates yet.

Tuesday May 5 1998
Stork wins order to build factory
Stork reports in Belgian unit Comprimo Belgie has won an order to build a new plasterboard plant for Gyproc Benelux near Antwerp. The total investment for the project is estimated at around NLG 160 mln and the new factory should be operational by the year 2000. Comprimo Belgie will be responsible for internal transport, all technical installations and the necessary infrastructure.

Tuesday April 21 1998
Stork restructures assembly operations
Stork has begun restructuring its loss-making foreign assembly operations. Stork's French activities will be deconsolidated and transferred into a new 40-60 joint venture with SNIG Managers. Stork's operations in Singapore will be stopped on June 1.

Tuesday April 14 1998
Stork gets NLG 500 mln contract
Stork GLT (Groningen Long Term) has signed a 25-year NLG 500 mln maintenance contract with Dutch natural gas and oil production company NAM. The contract involves 11 of the 29 production installations on NAM's Slochteren gas field. The contract includes options for maintenance of the other installations. Stork GLT has opened an office in the Groningen region with 60 employees.

Friday March 13 1998
Stork Comprimo wins big orders
Storks' unit engineering and contracting has received orders worth a combined NLG 100 mln. The operating unit Stork Comprimo Belgium is to build a new NLG 80 mln plant for Janssen Pharmaceutica, which is part of the Johnson & Johnson group. Stork Comprino has also been commissioned to expand factories for Amorco Chemicals, BF Goodrich and Solvay.

Tuesday March 3 1998
Stork reports net profit up 25%
Stork reports net profit for 1997 increased with 25% from NLG 136.8 mln to NLG 171.6 mln. Turnover grewd with 12% from NLG 4.9 bn to NLG 5.5 bn. Operating result rose 23% to NLG 222.6 mln, compared with NLG 180.5 mln for 1996. Earnings per shore increased 22% from NLG 4.58 to NLG 5.61. Stork forecast higher profits for the current year.

Monday February 23 1998
Chinese deal for Philips and Stork
The Netherlands Airport Technology consortium involving Philips Special Products and Stork is expected to sign an agreement in principle to expand and modernise the airport of the Chinese city of Chengdu. The value of the deal is around NLG 75 mln. 40% of the cost will be paid by the Dutch government.

Friday February 13 1998
Stork to sell pumps production unit
Stork is to sell Stork Bosman, its only remaining pumps production unit, in a management buy-out. Stork plans to concentrate in future on the production of textile printers, aircraft equipment and slaughterhouse equipment.

Monday January 26 1998
Stork expects to take over Electron Leeuwarden
Stork is to take over the subsidiary Electron Leeuwarden from Electron. Electron Leeuwarden employs 120 people and is active in the field of laying underground networks for energy distribution, lighting and traffic management systems. Stork says the purchase is of strategic and geographic importance to its infratechniek division.

Friday January 16 1998
Stork and economic affairs ministry officials delegation to Airbus
Stork and economic affairs ministry officials will form a delegation to convince Airbus that Dutch engineering firms are ready to supply parts for the planned 550-seat Airbus Super jumbo. At the end of 1997 the Dutch government reserved NLG 320 mln as support for the Dutch aerospace sector.

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